Quotes for Imported Soybeans at Shandong Ports on November 14th
Cofeed News: today(on November 14th), Qingdao port in Shandong offers 3,390 yuan/tonne($510) for PNW soybeans, 3,410 yuan/tonne($513) for US Gulf soybeans and 3,350 yuan/tonne($504) for Uruguayan soybeans, all keeping flat over yesterday. Prices for imported and distributed soybeans remain stable after falls as supply tension persists at Shandong ports and rumor triggers market concerns that the more strict examination on imported soybeans in China will affect import progress amid strong sentiments of traders to hold out for high prices, but on the other hand, domestic soybeans keep growing, which somewhat limits the upside on imported soybeans though large imported soybeans are going to arrive later. According to Cofeed latest investigation, more than18.2 Mln tonnes of soybeans are estimated to arrive at ports in November and December though market participators and traders are not optimistic about the market later. Indeed, imported soybeans may pare gains if soybean uploading goes smooth. (USD $1=CNY 6.642)
